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Yep. Pajamasmedia.com's page views trending downwards, and for all four pajamasmedia affiliated sites, (instapundit.com, littlegreenfootballs.com, michellemalkin.com and rogerlsimon.com.) page views per day have declined since the inception of pajamasmedia.com

And this, in spite of a huge expansion in people using the web. As Dennis points out it's not quite "coalescing the Internet's brightest minds and most compelling content into a single source that will, in turn, redefine journalism in the 21st century and beyond", is it?